At the beginning of marriage, most couples do not want to think about the possibilities of anything other than continued wedded bliss. However, all couples must face the reality that the unexpected is possible. Part of this reality is to discuss and share feelings and facts about creating an estate plan. When it comes to estate planning, Michigan couples need to not only understand each other's wishes but also which steps to take together to ensure those wishes are fulfilled.
First and foremost, having the right documents and plans in place is important. This includes disclosing life insurance information and deciding how much is enough. Even if one spouse is a stay-at-home parent, life insurance is needed. A will must then be drafted, and sadly, many adults, even those with minor children, have not taken this step. This could leave others, including a spouse, to guess what should be done with assets or even which funeral arrangements may be wanted.